DINA MANGURAKOT COMPUTER SERVICES

Adjusting Transactions:
The following are the transactions for the month of July 2023:
July 3 Honesto signed a contract of lease for a monthly rental of P 12,000.
July 6 Bought additional Computer Equipment amounting to 20% of the beginning
Computer Equipment on account.
July 9 Received P 2,500 cash from customers on account.
1. Additional Salaries were incurred but the payment will be done next month amounting
to P 5,000 ( Use Account No. 3111 for Salaries Payable)
2. Computer Supplies already used amounting to P 8,500 (Use Account No. 7115 for
Computer Supplies Expense)
3. Office Supplies on hand amounting to P 420( Use Account No. 7116 for Office
supplies expense)

July 16 Paid Salaries of employees, P 18, 800.
July 20 Received P 8,200 for services rendered in cash.
July 23 Purchased additional computer supplies, P 13, 990 in cash.
4. It is estimated that 5% of Accounts Receivable are deemed uncollectible. (Use
Account No. 1111.1 for Allowance for Bad Debts and 7117 for Bad Debts Expense.)
5. Advance payment for services rendered for 5 months was received on June 30,
2023. (Use Account No. 3111 for Unearned Service Income.)

July 24 Purchased Office Supplies on account P 850. 6. Computer Equipment was acquired on January 1, 2023, with a useful life of 4 years
with no salvage value. (Use Account No. 7118 for Depreciation Expense-Computer
July 25 Billed customers for services performed P 13,200. Equipment and 2111 for Accumulated Depreciation-Computer Equipment.)

July 27 Paid monthly rent July 28 Paid 5,200 to creditors on account.

July 29 Paid expenses: Water, P 10,200, Advertisement, P 29,500, Repair, P 12, 447.

July 30 Rendered Services to clients worth 86, 700 in cash.

July 30 Honesto made cash withdrawals from the business worth P 3,100.

Other Information: Use 5111- Honesto, Personal, 6110- Service Income, 7110- Salaries
Expense 7111- Rent Expense, 7112- Utilities Expense, 7113- Advertising Expense,
7114- Repair Expense